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How to tell if a new economy is emerging or not

We’re all familiar with the words “recession” and “recovery” to describe a time of rapid economic growth and rising living standards.But sometimes those words are misused.For example, “recess” can be used to describe an extended period of low growth and unemployment, while “recover” can also be used in a broad sense to describe any period

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Saudi Arabia says it will stop cutting oil production to meet sanctions

Saudi Arabia has said it will not reduce oil output to meet its $150 billion (£85 billion) economic sanctions against Iran, after a United Nations panel said the move risked creating “an existential threat” to the region.Saudi Arabia said in a statement on Wednesday it would “temporarily halt” all its oil production, including in the

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Which country has the best and worst engineering economics?

Economists have a field day at the latest research paper on the economics of engineering, and their findings are surprisingly varied.Some of the most fascinating is the finding that the UK has the worst engineering, engineering economics and engineering management outcomes in the world.Economists at University College London published a paper last week showing that